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Question
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
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Solution
The market form in which the Government of India is the sole buyer of fighter aircraft is known as a monopsony.
RELATED QUESTIONS
Explain three features of Perfect competitive market.
Differentiated products is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
A seller cannot influence the market price under:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
The seller in a monopoly market is a price maker.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Which of the following is the least competitive market?
Give an example of monopsony.
To which market is product differentiation relevant?
State the advantage of monopolistic competition over monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Scooters
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following:
A few large sellers
There are a large number of buyers and sellers under a ______ market.
Mention one feature of a monopoly market.
Which of the following is an example of a perfectly competitive market?
